TESLA MOTORS OPENS FIRST CANADIAN STORE

Toronto store is first international location to feature Tesla’s new, innovative showroom design

November 16, 2012

Tesla Motors (NASDAQ: TSLA) opened its first “new design” retail store in Toronto, Canada today. Tesla’s new store, located in Yorkdale Shopping Centre, features interactive displays and design studios where customers can design their own Tesla Model S on a large touchscreen and then view it on an 85-inch video wall in the back of the store.

“We are very excited to bring our new, interactive store design to Toronto,” said George Blankenship, vice president of worldwide sales and ownership experience. “Our approach continues to be focused on informing as many people as possible about EVs, our company, and the advanced technology behind Model S. Customers in our store are invited to ask questions and engage with informative product specialists to learn more about the many advantages of driving an electric car. We know we’ve done our job when every customer leaves smiling.”

Tesla is reinventing the car-buying experience by placing its stores and showrooms in high foot-traffic locations like Yorkdale Shopping Centre. Tesla Yorkdale is one of 10 new locations Tesla has opened this fall. By the end of 2012, Tesla will have 24 locations in North America and 34 worldwide. Tesla will continue to expand its retail network into 2013, supporting the mission to engage and inform as many people as possible about driving electric.

More than 13,200 reservations have been made worldwide for Model S through September 2012. Customers can reserve a Model S at one of Tesla’s retail stores or online.

About Model S

Model S is the world’s first premium sedan built from the ground up as an electric vehicle and has been engineered to elevate the public’s expectations of what a premium sedan can be. At the heart of Model S is the proven Tesla powertrain, delivering both unprecedented range and a thrilling drive experience. With a rigid body structure, nearly 50/50 weight distribution and a remarkably low center of gravity, Model S offers the responsiveness and agility expected from the world’s best sports cars while providing the ride quality of a luxury performance sedan. Model S has received many awards and accolades during its first year on the market, including Motor Trend’s prestigious 2013 Car of the Year.

Without an internal combustion engine or transmission tunnel, the interior of Model S has more cargo space than any other sedan in its class and includes a second trunk under the hood. The Model S interior features a 17” in-dash touchscreen with Internet capabilities, allowing for streaming radio, web browsing and navigation.

About Tesla

Tesla’s goal is to accelerate the world’s transition to electric mobility. Palo Alto, California-based Tesla designs and manufactures EVs and EV power train components for partners such as Toyota and Daimler. Tesla has delivered more than 2,400 Roadsters to customers worldwide. Model S, the first premium sedan to be built from the ground up as an electric vehicle, began deliveries in June 2012.

Interested in keeping up with Tesla Motors?For more information on Tesla Motors and its products, please visit: teslamotors.comFor more information for Tesla Motors investors, please visit: ir.teslamotors.comFor the latest information from Tesla Motors, including press releases and the Tesla blog, please visit: teslamotors.com/press

Forward-Looking StatementsCertain statements in this press release, including statements regarding the characteristics and performance of Model S, future store openings and information regarding Model S handling, efficiency and safety, are “forward-looking statements” that are subject to risks and uncertainties. These forward-looking statements are based on management’s current expectations. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.